Commentary: We are seeing movement in the major stock indexes in here. Shanghai and Nifty have come off, Nikkei, DAX and DIA may have room to move to 25,500 before facing rejection from their resistances. PE

DJIA at 25326.16, -0.03% is likely to hold, and see range trading within 25100-25500 before rejection at 25500. A clear break above 25500 with at rise past 26000 indicates a up to all time highs.

DAX at 12546.33, -1.5% gap opened down following the losses in the other indexes, and it can test to 12300 before it bounces.

Nikkei at 22541.81, +0.13%) is stuck in the narrow range of 22500-22800 and could move up slowly towards 22800 in the next 2-3 sessions. Looking at the 3-day and weekly charts, Nikkei may come off sharply towards 22000 or lower, given the medium term resistances hold.

Shanghai at 2748.48, -0.71% fell as resistance at 2900, there the chance of testing to 2650 now. Near to medium term looks Bearish to me.

Nifty at 11244.70, -0.89% closed below support at 11250. If Nifty bounces Friday it could move up next week. A clear break below 11200 has Nifty set up to test 11000 sooner rather than later.

Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.